独立审计能提供公司财务舞弊的警示信息吗——基于证监会处罚公告的经验证据

Can Auditors Provide Warning Information about Corporate Financial Fraud?—— Empirical Evidences from Punishment Bulletins by CSRC

以2005～2008年被中国证监会处罚的A股上市公司及其配对公司为样本,从独立审计意见与财务舞弊关系的角度检验了审计师能否提供公司舞弊的警示信息。实证研究表明,公司舞弊行为与当年及下年度的审计意见负相关,公司舞弊之前两个年度的审计意见与舞弊行为负相关。这些经验结果不但说明公司因财务舞弊而被出具非标准无保留意见的可能性较大,舞弊行为能够及时地在审计意见中得到反映并被审计师持续关注,而且也说明独立审计能够通过审计意见提示公司未来发生财务舞弊的可能性,为公众提供公司舞弊的警示信息,这是我国独立审计监督有效性的直接证据。

Using the sample of Chinese A-share listed companies that were punished by CSRC and its＇ matched companies in year 2005-2008,this paper studies whether independent auditors provided warning information based on the relation between audit opinions and financial fraud behaviors.The results we found are as follows （：1）the relation between financial fraud and audit opinion is negative and this relation exited both in the year when fraud happened and the next year;（2）the audit opinions in two-years before fraud are negative with fraud behaviors also.All evidences above not only mean the likelihood that fraudulent companies＇ audit opinions aren＇t unqualified opinion is high,and audit opinion can be reflected the fraud behaviors in time,but also suggest that auditor can tell investors the probability of companies＇ financial fraud in future by audit opinion published.So we can drown the conclusion that auditors can provide warning information about corporate fraud and independent audit monitoring is efficiency.